Bassets eDepreciation

Founded in 1989, Decision Support Technology is a privately held company dedicated exclusively to the Fixed Asset marketplace. Our industry leading Fixed Asset product, eDepreciation, was released in 2008 and has changed the playing field for best-of-breed Fixed Asset software that can exchange data with all accounting products.

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4-4-5 Week, 13 Period Accounting

This optional module for Bassets eDepreciation provides for non-standard accounting periods. While most companies end their year on December 31st or the last calendar day of some other month, there are a great many companies whose year will end, for example, the last Saturday in December or some other month.

The 13 Period Accounting module is the same as the 4-4-5 Week Period Accounting except that the tax year will consist of 13, 28 day accounting periods. When the 4-4-5 Week Accounting Period Module has been activated, the user would select 13 Period Accounting on the Client Master Preferences tab.

Accounts Payable Import

The Accounts Payable Import module for Bassets eDepreciation allows the import of invoice detail to either the Bassets CIP module or directly to the asset table. When importing to CIP, each invoice creates one associated CIP record. These can later be consolidated into one or more asset records.

The import procedure, which processes invoices directly to assets will create asset records and build the associated depreciation schedules based upon predefined defaults. This includes the use of General Ledger or Class codes to determine the correct asset life.

Barcode Inventory Control

This optional module enables the user to perform a physical inventory of capital assets and compare the collected inventory data with the capital asset records maintained in The Bassets Fixed Asset System. The barcode module will interface with any barcode scanner capable of down loading its collected data to a PC. The module will also read any data collection database designed to suit the needs of any customer.

Construction in Progress

This optional module for Bassets eDepreciation provides the asset manager with the ability to manage multiple projects involving multiple invoice records. When a project has been completed, the asset manager would consolidate the multiple invoice records associated with the project into either a single or multiple asset records.

The consolidation process involves a user definable selection criteria based on seventeen data elements and those invoice records that match the selection criteria are then consolidated to an asset record in Bassets eDepreciation.

Expense Allocation

The expense allocation module easily allows companies to distribute depreciation expense dollar amounts to divisions or cost centers within their corporation through the use of allocation pools. One or more projects can then distribute expense based on the percentages. Standard reports can display depreciation amounts by asset or further break down the expense based on the associated allocation pool of each asset.

Foreign Currency Conversion

The Foreign Currency Conversion optional module enables the Bassets eDepreciation user to maintain cost information in a Functional Currency. The user can then generate depreciation, gain/loss and other reports in selected Reporting Currencies.

General Ledger Interface

The G/L Interface module for Bassets eDepreciation allows the user to run a monthly procedure to export monthly depreciation to an output file sorted and totaled by G/L Code for both Debit and Credit. The G/L Interface allows the user to select which columns to export, what type of file they want to export to, and the month they would like to run the export for.

Leased Asset Tracker

This optional module for Bassets eDepreciation aids the asset manager in tracking leased assets. Data fields include: lease type, contract, opton and expiration dates, lease term, lease fee, purchase amount, etc. The Leased Asset Module generates reports by lease type, contract, option and expiration dates, and lessee or lessor.

State Reporting

Forty-six states and the District of Columbia require an annual business income tax filing. Bassets eDepreciation now includes a state depreciation option that simplifies this complicated procedure to comply with unique depreciation requirements of every state.

Units of Production

This optional module for Bassets eDepreciation provides the user with the ability to depreciate assets based on the production of an asset rather than a specified number of years. There are two versions of the Units of Production module, one for manufacturing operations and one for the mining industry. The mining industry version allows the user to setup multiple mines with different and multiple units of measure. The Mine Reserve may be changed annually.